The stock market had another difficult week. The benchmark Standard & Poor's 500 index slid back 10% below its most recent all-time high in September, as a recalibration of earnings growth continued.

After rising for six consecutive months, the rate of improvement in the U.S. Index of Leading Economic Indicators slowed significantly in October. The LEI rose one-tenth of 1% in October, down from +0.5% in September and +0.4% in August.

"The index still points to robust economic growth in early 2019, but the rapid pace of growth may already have peaked," according to The Conference Board, a private business group that maintains the LEI.